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Climate bonds in the pipeline: US $220m solar, Philippines $170m geothermal

Published: 06 Apr 2013

> US utility ConEd are in the process of placing $220m of senior secured fixed-rate notes, similar to covered bonds, in the 4(2) Private Placement market.  Proceeds refinance 110MW of US solar projects. Citi is the lead agent on the deal; Bank of Tokyo-Mitsubishi UFJ, Key Bank and Mizuho are co-placement agents. The bond was privately rated; it’s apparently at least BBB.

> Geo-thermal power producer Energy Development Corp has filed with the Philippines Securities and Exchange Commission to issue up to P7bn ($170m) of 7 & 10 year fixed rate bonds to finance expansion plans. Issue manager is BDO Capital and Investment Corp. The bonds have been rated Aaa by local agency PhilRatings, their highest score.

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